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Wed July 3, 2013
Illinois Chamber President Urges Pension Overhaul
Doug Whitley, President of the Illinois Chamber of Commerce, says the state's underfunded pension systems are wreaking havoc in other areas. He says the growing cost of pension payments is forcing Illinois government to spend less on areas like education and infrastructure.
Whitley backs a plan that House Speaker Michael Madigan has pushed to unilaterally cut benefits. He explains why he feels this is the best approach and how lawmakers need to be more upfront about the problem.